Q2 2017 Earnings Forecast for Noble Energy Inc. (NBL) Issued By Jefferies Group
Noble Energy Inc. (NYSE:NBL) – Research analysts at Jefferies Group boosted their Q2 2017 earnings estimates for Noble Energy in a research report issued to clients and investors on Wednesday. Jefferies Group analyst Z. Parham now anticipates that the oil and gas development company will post earnings per share of ($0.14) for the quarter, up from their prior forecast of ($0.17). Jefferies Group has a “Buy” rating and a $40.00 price objective on the stock. Jefferies Group also issued estimates for Noble Energy’s Q3 2017 earnings at $0.03 EPS and FY2017 earnings at ($0.05) EPS.
A number of other research analysts have also weighed in on the company. Citigroup Inc. lowered Noble Energy from a “buy” rating to a “neutral” rating in a report on Friday, June 16th. Barclays PLC reaffirmed an “overweight” rating and set a $41.00 price objective (down previously from $46.00) on shares of Noble Energy in a report on Saturday, April 22nd. Scotiabank set a $38.00 price objective on Noble Energy and gave the stock a “hold” rating in a report on Monday, March 27th. Bank of America Corporation raised Noble Energy from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $53.00 to $49.00 in a report on Thursday, May 11th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $50.00 price objective on shares of Noble Energy in a report on Friday, June 2nd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Noble Energy currently has an average rating of “Buy” and an average target price of $42.31.
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Noble Energy (NYSE:NBL) opened at 28.73 on Friday. The stock’s 50 day moving average price is $28.53 and its 200-day moving average price is $33.51. Noble Energy has a 12 month low of $26.56 and a 12 month high of $42.03. The stock’s market cap is $12.38 billion.
Noble Energy (NYSE:NBL) last announced its earnings results on Monday, May 1st. The oil and gas development company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. Noble Energy had a negative return on equity of 0.44% and a negative net margin of 17.75%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $974.54 million. During the same quarter last year, the firm posted ($0.53) EPS. The business’s revenue was up 43.1% on a year-over-year basis.
Institutional investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp raised its position in Noble Energy by 5.5% in the first quarter. Fifth Third Bancorp now owns 2,913 shares of the oil and gas development company’s stock valued at $100,000 after buying an additional 153 shares during the last quarter. Private Advisor Group LLC acquired a new position in Noble Energy during the first quarter valued at approximately $132,000. Harbour Capital Advisors LLC acquired a new position in Noble Energy during the first quarter valued at approximately $136,000. Global X Management Co. LLC raised its position in Noble Energy by 30.1% in the first quarter. Global X Management Co. LLC now owns 5,702 shares of the oil and gas development company’s stock valued at $196,000 after buying an additional 1,319 shares during the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in Noble Energy during the first quarter valued at approximately $201,000. Hedge funds and other institutional investors own 96.84% of the company’s stock.
Noble Energy Company Profile
Noble Energy, Inc is an independent energy company. The Company is engaged in crude oil, natural gas and natural gas and natural gas liquids (NGLs) exploration, development, production and acquisition. The Company’s segments include: United States, including the onshore DJ Basin, Permian Basin, Eagle Ford Shale, Marcellus Shale and offshore deepwater Gulf of Mexico, as well as the consolidated accounts of Noble Midstream Partners LP (Noble Midstream Partners); Eastern Mediterranean, including offshore Israel and Cyprus; West Africa, including offshore Equatorial Guinea, Cameroon and Gabon, and Other International and Corporate, including new ventures, such as offshore the Falkland Islands, Suriname and Newfoundland.
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